tag:blogger.com,1999:blog-11719208.post2868116580992374512..comments2023-11-05T04:36:14.223-08:00Comments on The Mess That Greenspan Made: The dismal set hasn't learned muchTimhttp://www.blogger.com/profile/16530974968126497397noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-11719208.post-42217161771536750382010-02-22T10:28:49.754-08:002010-02-22T10:28:49.754-08:00These fellas are still smoking the kool-aid.These fellas are still smoking the kool-aid.Danhttps://www.blogger.com/profile/14611189349119964821noreply@blogger.comtag:blogger.com,1999:blog-11719208.post-3287235383795706772010-02-22T10:20:17.621-08:002010-02-22T10:20:17.621-08:00Point taken re: "That phrase makes it sound a...Point taken re: <i>"That phrase makes it sound as if the economic problems have been solved and we've averted crisis."</i><br />Then again, if you nearly destroyed the world once, that doesn't preclude coming back and finishing the job.Timhttps://www.blogger.com/profile/16530974968126497397noreply@blogger.comtag:blogger.com,1999:blog-11719208.post-9406391541463946912010-02-22T09:46:43.562-08:002010-02-22T09:46:43.562-08:00'nearly destroyed the world.'
That phrase...'nearly destroyed the world.'<br /><br />That phrase makes it sound as if the economic problems have been solved and we've averted crisis.<br /><br />I'm not comfortable with that conclusion. We're still struggling to deal with the consequences of the housing bubble and the fat lady hasn't sung yet.<br /><br />Also, the WSJ article's premise seems to be that the fed should have 'allowed' higher inflation so they'd have room to maneuver during a recession. If I've got that right, then the author also believes that:<br />1) an economy should be centrally controlled (by the fed in America) and<br />2) this can be done successfully (if only we were smarter, we could have financial nirvana)<br /><br />I disagree with both ideas and suggest they represent the kind of constant brainwashing that is ruining America.<br /><br />Some economists, such as Mises and the Austrian School, believe that the economy should not be controlled (they believe in "the free market") because individual people will always screw it up no matter how well-intentioned and brilliant they seem.<br /><br />Most economists today seem convinced that the economy must be managed by government and the only argument is how best to manage it.<br /><br />As a result, they look like morons every time they get 'surprised' by the real world.<br /><br />The 'science' of economics has become similar to the 'science' of climate where 'experts' tell us AGW is real and cannot be debated. We MUST accept this and the ONLY issue under discussion is the best way to stop it.<br /><br />These so-called 'climatologists' look like morons and/or crooks every time their data turns out to be faulty or 'cooked' and every time Mother Nature shows them to be arrogant and wrong.<br /><br />It seems that human hubris knows no bounds and we will forever be stuck with people debating over how best to control the world and the lives of every singe person on the planet.<br /><br />It's like fleas arguing over who owns the dog.simplesimonnoreply@blogger.com